IMF, Global Banksters Get Last Laugh On Iceland

Was the whole "push-back" by the new government a mere ruse, to let the international banksters in the back door? -- ``The New Banks have written off claims on major corporate debtors, whose continued operations have ensured their role as cash cows for the banks' new vulture owners. But household debts acquired at 30 to 50 percent of face value have been re-valued at up to 100 percent. The value of owners' share equity has soared. The Government has not intervened, accepting the banks' assertion that they lack the resources to grant meaningful debt relief to households. So unpayably high debts are kept on the books, at transfer prices that afford a windfall to financial predators, dooming debtors to a decade or more of negative equity. ''